NVIDIA Corporation $NVDA Stock: Prairie Advisory LLC Raises Holdings

Key Points

• Prairie Advisory increased its NVIDIA stake by 92.6% in the third quarter, to 23,634 shares valued at about $5.4 million. Institutional investors collectively own 65.27% of the company’s shares.
• NVIDIA insiders sold 1.77 million shares worth about $399.5 million in the last quarter; the reported sales included transactions by EVP Timothy Teter and director Mark Stevens.
• Analysts’ consensus rating is “Moderate Buy,” with a $277.89 average price target, although some firms lowered their targets. NVIDIA shares fell 2% on Friday to $162.85.

Prairie Advisory LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 92.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 23,634 shares of the computer hardware maker's stock after buying an additional 11,364 shares during the period. NVIDIA comprises about 0.6% of Prairie Advisory LLC's portfolio, making the stock its 29th largest holding. Prairie Advisory LLC's holdings in NVIDIA were worth $5,398,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Intelligent Financial Strategies acquired a new stake in NVIDIA during the third quarter valued at $26,000. Montgomery Financial Services LLC purchased a new position in NVIDIA in the second quarter valued at $28,000. Langley Wealth Management LLC acquired a new position in shares of NVIDIA in the second quarter worth about $34,000. Newton One Investments LLC acquired a new position in shares of NVIDIA in the third quarter worth about $34,000. Finally, Phillip James Consulting Co. acquired a new position in shares of NVIDIA in the first quarter worth about $40,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Timothy S. Teter sold 30,460 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the transaction, the executive vice president directly owned 2,687,660 shares in the company, valued at approximately $598,810,648. This represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $231.62, for a total value of $144,122,997.18. Following the sale, the director directly owned 2,336,531 shares of the company's stock, valued at $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,766,118 shares of company stock valued at $399,450,353 in the last quarter. Insiders own 3.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NVDA. DA Davidson lowered their target price on shares of NVIDIA from $300.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday. Sanford C. Bernstein set a $200.00 price target on NVIDIA and gave the company a "market perform" rating in a research note on Thursday. Mizuho set a $250.00 price target on NVIDIA in a report on Monday, November 9th. Rosenblatt Securities reduced their target price on NVIDIA from $390.00 to $300.00 and set a "buy" rating for the company in a research note on Friday. Finally, Deutsche Bank reaffirmed a "buy" rating on shares of NVIDIA in a research note on Monday, August 31st. Five analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $277.89.

Latest NVIDIA News

Investors following NVDA have been watching these news items:

• Positive Sentiment: Despite cutting its price target to $300, Rosenblatt Securities maintained a Buy rating; other coverage also points to continued investor optimism about NVIDIA’s long-term growth potential. Rosenblatt Securities rating
• Positive Sentiment: Investors will look to the November 17 earnings report for evidence that AI demand remains robust. Articles cite strong infrastructure spending and a $108 billion revenue outlook as potential supports for the business. NVIDIA earnings preview
• Negative Sentiment: Reports connecting the leadership scandal to scrutiny of possible chip diversions to China have raised risks of regulatory action and reputational damage. The allegations remain under investigation, while U.S. lawmakers are seeking testimony. Congressional scrutiny

NVIDIA Trading Down 2.0%

Shares of NVDA stock traded down $3.34 during trading on Friday, hitting $162.85. 363,372,273 shares of the stock traded hands, compared to its average volume of 196,617,360. The firm has a market capitalization of $3.92 trillion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.28 and a beta of 2.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. The firm's fifty day moving average price is $214.64 and its 200-day moving average price is $204.12. NVIDIA Corporation has a 52-week low of $148.80 and a 52-week high of $243.37.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion for the quarter, compared to analysts' expectations of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The firm's quarterly revenue was up 105.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, research analysts forecast that NVIDIA Corporation will post 9.29 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Monday, September 28th that authorizes the company to repurchase $150 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 2.8% of its shares through open market purchases. Share buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. NVIDIA's payout ratio is currently 12.64%.

NVIDIA Profile

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA's offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.

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